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Binance Restores Withdrawals After $6.3 Billion North Korea-Linked Hack

Binance Restores Withdrawals After $6.3 Billion North Korea-Linked Hack

First seen 14 Nov 2026, 17:12 UTC • •
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ThreatCluster AI
ThreatCluster •November 15, 2026 at 00:13 UTC
  • •Binance aims to fully restore withdrawals after a $6.3 billion hack linked to North Korea.
  • •The exchange has reopened withdrawals for 87 networks and plans to complete restoration by the end of the week.
  • •The attack is attributed to a North Korean group, raising significant security concerns in the cryptocurrency sector.

Binance, the largest cryptocurrency exchange, is working to restore its withdrawal services after a cyberattack linked to North Korea resulted in the theft of approximately $6.3 billion on October 29, 2026. As of November 14, the exchange has reopened withdrawals for 87 blockchain networks and aims to restore all services by the end of the week. The FBI and Binance have attributed the breach to a North Korean hacking group known as 'TraderTraitor', although North Korea has denied involvement. The attack is considered the largest cryptocurrency theft in history, prompting Binance to cover 95% of the stolen assets and release a Proof of Reserves report to assure users of their funds' safety. The incident has raised questions about the security of digital assets and the operational integrity of Binance, especially following the resignation of its finance chief shortly after the breach. Users are advised to expect potential delays in withdrawals as services are restored gradually.

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Timeline

2026-10-29
Major cyberattack on Binance
A cyberattack linked to North Korea resulted in the theft of approximately $6.3 billion from Binance.
Telegraphindia
2026-11-12
Binance releases Proof of Reserves
Binance published an updated Proof of Reserves report, confirming that user balances are backed 1-to-1.
Finance.Biggo
2026-11-14
Withdrawals resumed for 87 networks
Binance announced the reopening of withdrawals for 87 blockchain networks, aiming for full restoration by the weekend.
Ca.Finance.Yahoo

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Common questions

What was the scale of the attack?
The attack resulted in the theft of approximately $6.3 billion, making it the largest cryptocurrency theft to date.
How is Binance addressing the situation?
Binance has covered 95% of the stolen assets and is gradually restoring withdrawal services across its platform.
What should users expect during the restoration?
Users may experience delays in withdrawals as services are restored in phases, and they are advised to retry if withdrawals fail.